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Vanguard, the world’s second-largest asset manager overseeing $9 trillion, is preparing to open the door to cryptocurrency exposure through exchange-traded funds (ETFs). Long regarded as a cautious player in digital assets, the firm has begun internal groundwork and external consultations in response to rising client demand and a more favorable U.S. regulatory climate.
Unlike rivals such as Fidelity, Schwab, and BlackRock, Vanguard is not rushing to launch its own crypto funds. Instead, discussions point toward offering brokerage clients access to carefully selected third-party crypto ETFs. While no timeline or product lineup has been finalized, insiders describe the firm’s approach as deliberate and shaped by the rapidly evolving digital asset market since 2024.
The potential shift comes as the SEC, under the Trump administration, has approved new standards for crypto ETFs and index funds tied to major digital currencies. For a firm historically viewed as one of Wall Street’s most conservative institutions, even limited access to crypto would mark a major strategic change.
